2012 (11) TMI 1125

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..... ee has challenged the impugned order of the CIT(A) III, Pune dated 15th July 2011 for the A.Y. 2008-09. The solitary issue arising for our consideration is denial of the exemption claimed by the assessee u/s. 10(10C) of the Act in respect of Ex-gratia amount received by the assessee from his employer under the Exit Option Scheme. 2. We have heard the parties. The assessee was the employee of .....

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..... on in the case of CIT Vs. Koodathil Kallyatan Ambujakshan(Supra) has been accepted by the CBDT and to that extent, Circular is also issued by the CBDT. We find that the issues stand squarely covered in favour of the assessee by the decision of the Hon ble High Court in the case of CIT Vs. Koodathil Kallyatan Ambujakshan (Supra). Moreover, on the identical set of facts in the case of other assessee .....

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..... rement. The said claim of exemption u/s. 10(10C) was rejected by the A.O. following the CBDT Circular F. No.200/34/2009-ITA.I, dated 8.10.2009. The A.O. denied the claim of the assessee u/Sec. 10(10C) of the Act. The assessee challenged the assessment order before the Ld CIT(A). The Ld CIT(A) following the decision in the case of CIT Vs. Koodathil Kallyatan Ambujakshan, 219 CTR 80 (Bom) allowed th .....

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